The Middlebury Blog Network » Benefitshttp://sites.middlebury.edu/middblogs
Selected Posts from the Midd BlogosphereTue, 03 Mar 2015 16:37:59 +0000en-UShourly1http://wordpress.org/?v=4.1.1Benefits Informationhttp://sites.middlebury.edu/announcements/2015/02/24/benefits-information-2/
http://sites.middlebury.edu/announcements/2015/02/24/benefits-information-2/#commentsTue, 24 Feb 2015 17:24:19 +0000http://sites.middlebury.edu/announcements/?p=11443Continue reading →Continue reading →]]>Middlebury College’s Health Plan has a “Coordination of Benefits” provision that requires CBA Blue to maintain information on file regarding other insurance coverage you or your dependents may have. Annually CBA Blue sends out a Coordination of Benefits form that all enrolled employees must complete to ensure proper processing of your health insurance claims. You should receive the form from CBA Blue within the next few days. Please be sure to complete it and return it to them as instructed. This form is required for all enrolled employees (even if you and your dependents do not have other insurance). This information is necessary for proper processing of your claims in a timely manner. Failure to provide accurate information on other coverage may result in serious financial consequences.
]]>http://sites.middlebury.edu/announcements/2015/02/24/benefits-information-2/feed/0Important Benefits Remindershttp://sites.middlebury.edu/announcements/2015/01/12/important-benefits-reminders-4/
http://sites.middlebury.edu/announcements/2015/01/12/important-benefits-reminders-4/#commentsMon, 12 Jan 2015 13:54:26 +0000http://sites.middlebury.edu/announcements/?p=11127Continue reading →Continue reading →]]>Trouble-free employee benefit plan administration requires a strong partnership between employees and Human Resources. The Human Resources Department works diligently each year-end to accurately process the thousands of required or requested benefit record changes and then to check and double-check our work. However, in the end, we also must rely on you, the employee, to do your part in managing your benefits by confirming that you are enrolled in the benefits you intended to elect. Please carefully review your first paycheck and let us know if you have questions or if anything seems amiss.

Medical/Dental Insurance

All medical plan participants were mailed new ID cards in December. These new ID cards have information regarding our new pharmacy benefit manager, MagellanRx, including their group and plan number, as well as their customer service phone number. Please confirm that you have received your new ID card. If you did not receive your new ID cards or if you need additional cards (for example, for a child away at college) call CBA Blue customer service (1-888-222-9206).

If you have been utilizing NEMOP for mail-order prescriptions and have not yet made arrangements to transfer your account to MagellanRx please do so by calling Magellan at 1-800-424-0472 to set up an account.

If you made a change to who is covered under your medical or dental plan, your new ID cards should reflect those changes. If your new ID cards do not list the correct family members please contact Lisa Hoff at x3372.

As was announced in October, the employee portion of the medical & dental premiums did not increase for 2015. However, any employee who made coverage level (single/2 person/family) changes should see a premium change in the first paycheck of 2015.

Premiums changes related to a change in coverage amount or age-band changes (5 year increments) should be reflected in the first paycheck in 2015. If you made changes or you hit a new age band in 2015, please confirm that your premium changed.

Requests for new life coverage or for increases in life coverage over the guarantee issue amount are not effective until approved by Mutual of Omaha. An Evidence of Insurability form must be submitted by you to Mutual of Omaha if you have requested this type of change. Mutual of Omaha will notify you directly of approval or denial. Any premium changes will be made as of the effective date of the approved coverage.

Flexible Spending Accounts

2015 elections for the Health Care and Dependent Care Flexible Spending Accounts should be reflected in the first paycheck of 2015. Please review your pay stub and confirm that your contribution is correct (divide your total annual election by 26 to calculate your per pay-period election.)

If you are a new Flexible Spending Account plan participant (you were not enrolled in a FSA last year) then FSA Benefits Cards were mailed to your home address in mid-December. If you had a FSA last year you will not be issued a new card as they are valid for 3 years. If your card is three years old, it will be good through January 31st and a new card will be issued by mid-January. The Benefits Card can be used to access funds in your Health Care and Dependent Care Flexible Spending Account. Important information about the FSA Benefits Card is available at http://www.middlebury.edu/offices/business/hr/staffandfaculty/benefits/flex.

If you submitted forms prior to the holiday break requesting changes to your Voluntary Retirement Plan or to enroll in the 457b Salary Deferral Supplemental Retirement Plan, your new elections should have been reflected in your first paycheck of 2015. If you requested changes please confirm that your elections are as expected.

If you have made a change to who is covered on your medical or dental plan and you have not received your new ID card(s), or if a benefit deduction doesn’t look right to you, or if you have any other questions or concerns about your benefits, please contact Human Resources as soon as possible. Thanks for doing your part to keep our benefit plans running smoothly!

To schedule an appointment with Erik Moreau, please call the Field Support Team at (800) 732-8353, M-F 8am – 8pm (EST).

]]>http://sites.middlebury.edu/announcements/2014/12/05/tiaa-cref-one-on-one-counseling-sessions-with-erik-moreau-2015/feed/0Holiday Pay Time Entry Reminderhttp://sites.middlebury.edu/announcements/2014/11/07/holiday-pay-time-entry-reminder-3/
http://sites.middlebury.edu/announcements/2014/11/07/holiday-pay-time-entry-reminder-3/#commentsFri, 07 Nov 2014 13:56:15 +0000http://sites.middlebury.edu/announcements/?p=10817Continue reading →Continue reading →]]>As we near the holiday season, it is time to review procedures regarding time entry during the November and December breaks. Hourly (non-exempt) employees must use specific holiday pay codes to record time during the designated breaks; exempt (salaried) employees do not have use special codes.

December Break: 5:01 p.m. Friday, December 19 through 11:59 p.m. Thursday, January 1 (the College reopens Friday, January 2, 2015)

Hourly Employees: There are two hourly employees pay codes – Holiday Pay and Holiday Premium Pay – that are used only during the designated holiday periods:

Holiday Pay (HOL): a benefit that is provided by Middlebury College to keep benefit-eligible employees’ pay whole without having to use CTO during designated holiday periods. It is not intended to provide extra pay: HOL, which pays at an employee’s regular hourly rate, is to be entered for normally scheduled hours by non-exempt benefit eligible employees on days during the specified holiday break periods whether or not they work. For the Thanksgiving break, up to two days may be entered, for the December break, up to nine days may be used. Employees who work variable or flexible schedules should coordinate entry of HOL with their supervisor to determine the appropriate number of HOL hours.

Holiday Pay Premium (HPP): a benefit that pays eligible non-exempt employees extra for working during the designated holiday periods. HPP, which pays at time-and-a-half the employee’s base hourly rate, is to be used by all eligible employees for hours worked during the specified holiday break periods. A limited number of part-time non-benefit eligible employees (such as those who work at the Snow Bow, as the Snow Bowl is open for regular business during the December) break are not eligible for HPP. Please speak with your supervisor or Human Resources if you have questions regarding your status or eligibility for HPP.
Exempt Employees: the Holiday Pay code will be automatically entered for regularly scheduled time; no additional action is required.

For both hourly and exempt employees, standard pay codes (Regular, CTO, etc.) should be used for any time off before the start of the breaks and/or after 11:59 p.m. on last day of the breaks.

Who Did Not Work on a HolidayHourly benefit-eligible staff: Enter Holiday Pay for any normally scheduled hours.Hourly non-benefit-eligible staff: No action.Hourly non-benefit-eligible staff in positions designated as ineligible for HPP: No action.Salaried, exempt staff: No action. Holiday Pay code will default in during payroll.

FAQs

Q: I understand that holiday pay is for benefit eligible staff. However, I had coordinated with my supervisor and indeed worked during Thursday and Friday of Thanksgiving. Can I enter the hours normally in this case?A: Worked hours during the holiday breaks should be entered as Holiday Pay Premium (HPP) by all non-exempt staff, whether or not they are benefits-eligible. The only exception would be Snow Bowl non-benefits eligible employees, since the Snow Bowl is not closed during the December break.Q: I am a benefits-eligible hourly employee who normally works Tues-Sat; how would I enter time for the Thanksgiving break if I am off Thursday and Friday, then work Saturday? Would I get three days of holiday pay?A: You would have to use CTO for one of the three days (the maximum holiday pay benefit is two days for the Thanksgiving break) if you were off all three days. If you work on Saturday, you would enter holiday pay premium for the hours if you work, but it wouldn’t be necessary to enter CTO since you would receive the maximum two days of holiday pay for Thursday and Friday.Q: I normally work Sunday through Thursday; how would I enter my hours for the Thanksgiving break?A: You would enter holiday time for Thursday, nothing for Friday and Saturday, and regular time for Sunday, assuming you work that day.

Please contact Human Resources if you have additional questions regarding time entry of HOL or HPP.

]]>http://sites.middlebury.edu/announcements/2014/11/07/holiday-pay-time-entry-reminder-3/feed/0Open Enrollmenthttp://sites.middlebury.edu/announcements/2014/11/07/open-enrollment-3/
http://sites.middlebury.edu/announcements/2014/11/07/open-enrollment-3/#commentsFri, 07 Nov 2014 13:46:50 +0000http://sites.middlebury.edu/announcements/?p=10824Continue reading →Continue reading →]]>Open Enrollment for Middlebury’s 2015 Health & Welfare Benefit Plan is being held from November 1 – 14, 2014.All benefits-eligible employees are required to complete the open enrollment process within this time period even if they do not intend to make benefit changes for 2015.

Open enrollment is your opportunity to:

• Continue your current medical, dental, or vision elections into the new year OR add coverage for yourself and/or dependents OR terminate your own or your dependents’ coverage.
• Continue your current voluntary life and/or accidental death and dismemberment coverage for the new year OR increase OR decrease the amount of existing coverage in these plans.
• Enroll in the health care and/or the dependent care flexible spending account(s) for next year. If you do not make an FSA election, you will not be contributing for 2015 even if you participated in 2014. For Q&A’s on the Health Care FSA rollover click here.

Open Enrollment must be completed, using Banner Web, between November 1 – 14, 2014. Benefits eligible employees will be able to access the open enrollment module from any computer with internet access.

]]>http://sites.middlebury.edu/announcements/2014/11/07/open-enrollment-3/feed/0Save the Date: Open Enrollment Nov 1st-14thhttp://sites.middlebury.edu/announcements/2014/10/27/save-the-date-open-enrollment-nov-1st-14th/
http://sites.middlebury.edu/announcements/2014/10/27/save-the-date-open-enrollment-nov-1st-14th/#commentsMon, 27 Oct 2014 13:28:19 +0000http://sites.middlebury.edu/announcements/?p=10764Continue reading →Continue reading →]]>Benefits open enrollment is being conducted electronically again this year. You will be receiving an e-mail (ooa Oct 31st) detailing our 2015 benefits as well as step-by-step instructions on how to enroll using BannerWeb. Human Resources will gladly help you through the process; if you have questions please call x2320.

All benefits eligible Faculty and Staff are required to complete Open Enrollment between November 1st & 14th.

Flexible Spending Accounts – it’s not too early to start calculating your 2015 annual election. Per federal law, this year’s annual limit is $2,500 (plus you may roll up to $500 of unused 2014 Health Care FSA funds into your 2015 account). If you will have large medical expenses next year (orthodontist work, laser eye surgery, etc.) you should make sure you know how much your out of pocket cost will be for these services before Open Enrollment starts.

For additional information on Flexible Spending Accounts, including a Planning Worksheet visit the Flex Spending webpage.

Flexible Spending Accounts (FSAs) are more compelling than ever now that the government has modified its “use-it or lose-it” rule. You can now rollover up to $500 of unused Health Care FSA funds at the end of the plan year, to be used the following plan year.

Health Care FSAs have always been a great way for you to budget for out-of-pocket health care expenses. Contributions to the Health Care FSA are deducted from your paycheck on a pre-tax basis – reducing your taxable income and increasing your spendable income by an average of 30% of your annual contribution. The government has modified its use-it or lose-it rule to allow up to $500 of unused Health Care FSA funds to rollover for use in the following plan year. Now, you can maximize your tax savings by maximizing your Health Care FSA contributions up to the $2,500 annual limit.

The benefits of the new FSA rule:

Rollover up to $500 of unused Health Care FSA funds to the following plan year

The rollover amount does not affect the following year’s maximum contribution amount. You can still contribute up to the maximum allowance of $2,500

Maximize your tax savings by increasing your contribution

The new rule does not affect the March 15th deadline to submit claims

Your entire annual election is still available at the beginning of the plan year

The risk of forfeiting funds has been greatly reduced. The stress of choosing the “right” election amount has been reduced. Increasing your contribution amount will automatically increase your tax savings. Enroll during Open Enrollment (Nov 1st-14th) to enjoy the benefits of the new Health Care FSA rollover provision for 2015.

]]>http://sites.middlebury.edu/announcements/2014/10/17/whats-new-with-flexible-spending-accounts/feed/0Save the Date: Open Enrollment November 1st-14thhttp://sites.middlebury.edu/announcements/2014/10/17/save-the-date-open-enrollment-november-1st-14th/
http://sites.middlebury.edu/announcements/2014/10/17/save-the-date-open-enrollment-november-1st-14th/#commentsFri, 17 Oct 2014 17:27:18 +0000http://sites.middlebury.edu/announcements/?p=10662Continue reading →Continue reading →]]>Benefits open enrollment is being conducted electronically again this year. You will be receiving an e-mail (ooa Oct 31st) detailing our 2015 benefits as well as step-by-step instructions on how to enroll using BannerWeb. Human Resources will gladly help you through the process; if you have questions please call x2320.

Flexible Spending Accounts – it’s not too early to start calculating your 2015 annual election. Per federal law, this year’s annual limit is $2,500 (plus you may roll up to $500 of unused 2014 Health Care FSA funds into your 2015 account). If you will have large medical expenses next year (orthodontist work, laser eye surgery, etc.) you should make sure you know how much your out of pocket cost will be for these services before Open Enrollment starts.

For additional information on Flexible Spending Accounts, including a Planning Worksheet visit the Flex Spending webpage.

All benefits eligible Faculty and Staff are required to complete Open Enrollment between November 1st & 14th.

]]>http://sites.middlebury.edu/announcements/2014/10/17/save-the-date-open-enrollment-november-1st-14th/feed/0Reminder From HR About CTO Maximumshttp://sites.middlebury.edu/announcements/2014/06/13/reminder-from-hr-about-cto-maximums-4/
http://sites.middlebury.edu/announcements/2014/06/13/reminder-from-hr-about-cto-maximums-4/#commentsFri, 13 Jun 2014 15:03:20 +0000http://sites.middlebury.edu/announcements/?p=9946Continue reading →Continue reading →]]>The maximum amount of CTO (combined time off) that can be carried into the next fiscal year is capped at 24 days (see table below for maximum hourly equivalents). Any CTO in excess of 24 days will automatically be transferred into your SLR as of June 27, for pay period 13 (6/9/14 – 6/22/14). Please plan accordingly. In order to avoid confusion and ease planning for employees, the CTO max is now applied to the last full pay period in June.

Throughout the year each employee is responsible for managing his/her CTO amounts within the applicable limits. Remember, if you allow your balance to reach maximum during any pay period except the final one of the fiscal year, your excess accrual does not automatically transfer to SLR –instead you will stop accruing and forfeit the un-accrued CTO time. Now is a good time to check your CTO balance in BannerWeb or a recent paycheck stub and plan your CTO use for the next few days and the upcoming fiscal year accordingly.

You may also transfer your own CTO at any time. When you report your time via BannerWeb, enter the number of hours you wish to transfer on the web time sheet in the row titled “Transfer CTO to SLR.”